Volkswagen to acquire 90.1% of Italdesign Giugiaro

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FRANKFURT (MarketWatch) -- German car maker Volkswagen AG
VOW3, -0.11%VOW, -0.64%
said Tuesday it will acquire a 90.1% stake in Italdesign Giugiaro SpA, including the brand name rights and patents. The shares will be acquired by Audi's Italian subsidiary, Lamborghini Holding SpA, while the Giugiaro family will retain the rest of the shares. Volkswagen didn't specify the price it's paying for the stake. Founded in Turin in 1968, Italdesign generates sales of more than 100 million euros and has a workforce of 800.

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